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Bear Stearns expects '08 revs to be higher than '07

NEW YORK
Thu Dec 20, 2007 5:28pm EST

NEW YORK (Reuters) - Bear Stearns Co Inc BSC.N said on Thursday it expects revenue in 2008 to be higher than levels in 2007, when revenue plunged on big write-downs on subprime mortgage-related assets.

Chief Financial Officer Sam Molinaro said 2008 revenue, however, likely will be lower than the level in 2006, a boom time for Bear Stearns' key fixed-income business.

Molinaro also said he expects the company's energy business to make a big contribution to revenue in 2008.

(Reporting by Tim McLaughlin; Editing by Jeffrey Benkoe)


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